The 5 SMA or a 5-20 cross is a good exit signal on daily charts and would have kept me in DE and CMI, which are still going up after I sold, but I'm like a little kid before Christmas seeing all the gifts under the tree when I see money fluctuating on the screen. It's my intense fear of loss that drives the reflex to put it away for safekeeping before it blows away in the wind! Losing open gainz feels way worse than missing the move in the first place or taking a loss, at least for me.
'When asked how he’d made his fortune, Nathan Rothschild, one of history’s most famous investors said; “I never invest at the bottom, and I always sell too soon.” His modest reply could have meant that he was less likely to focus time on the market highs and lows, and more inclined to watch the general trends.'
And doesn't that family own like half the world by now? Seems to work.
Another angle is my fear of selling a losing position to a bag holder. It's immoral to sell lemon used cars to suckers, meme stocks to momo chasing monkeys, and stocks at the top of a parabola to moms and pops who finally break down and enter the market because everyone around them is leaving them in the dust. I'd rather sell half way up and let the next holder have some of it too. No joke. PTJ may have been similar, based on his interview (long ago) in market wizards. Even said he used elliot wave to find high reward / risk situations.
Back to business, will be watching UCO carefully because the second buy point is coming up. Price will sometimes bounce on the previous pivot and if you have the guts to get in on the spike, the profit velocity is among the fastest I've found in 12 years of losing at this.
